Coinbase Market Buzz: Dormant Bitcoin Whale’s $8.6B Move Sparks Speculation

A long-dormant Bitcoin whale has resurfaced after 14 years, transferring 80,000 BTC (worth ~$8.6 billion) on July 5, 2025. Blockchain analysts at Arkham detected the movement, which involved batches of 10,000 BTC each, completed within hours. While initial speculation suggested potential selling pressure, on-chain data indicates the activity may have been an address upgrade from legacy "1-" formats. This event has reignited market interest in dormant holdings and their potential impact on liquidity. As one of the largest single movements in Bitcoin's history, the transaction coincides with renewed institutional interest in crypto, including Coinbase's growing custody services for high-net-worth investors. The whale's identity remains unknown, but the timing aligns with increasing institutional adoption and could signal broader confidence in Bitcoin's long-term value proposition.

Dormant Bitcoin Whale Resurfaces with $8.6 Billion Transfer, Sparking Market Speculation

A long-dormant bitcoin whale has reemerged after 14 years, transferring 80,000 BTC worth approximately $8.6 billion on 05 July. The movement, detected by blockchain analysts Arkham, involved batches of 10,000 BTC each, completed within hours. Market observers initially speculated about potential selling pressure, but on-chain data suggests the activity may have been an address upgrade from legacy "1-" formats to newer "bc1q-" types.

The coins originated from 2011 mining rewards via Coinbase transactions. Despite the sheer scale of the transfer, Bitcoin's price remained resilient, trading firmly above $100K—a testament to robust institutional demand. The methodical nature of the transaction points to technical motives rather than market-driven action, though the event briefly unsettled investor sentiment.

Coinbase Hacker Returns with $12.5 Million ETH Purchase Amid Security Concerns

A wallet linked to a Coinbase exploit has resurfaced, purchasing 4,863 ETH for $12.5 million in DAI at $2,569 per token. Onchain data reveals the hacker still holds $45.36 million in DAI across two wallets, signaling potential further accumulation. This follows a previous transaction where 26,347 ETH were sold for $68.18 million in DAI.

Ethereum remains a prime target for malicious actors, with SlowMist reporting over 5,900 stolen ETH still dispersed across 12,490 addresses. The movement suggests strategic repositioning—either capitalizing on anticipated upside or obscuring fund trails.

The crypto market's $3.3 trillion capitalization underscores both its growth and vulnerabilities. As institutional adoption accelerates, security flaws increasingly threaten ecosystem stability. Ethereum's prominence makes it particularly susceptible to such exploits, raising questions about long-term risk mitigation.